Insurers need to manage the often underestimated systems and data journey to ensure they achieve a manageable and practical solution
This article looks in more detail at the data and systems aspects of change for insurers’ finance functions and why companies need to closely manage their transformation journeys to ensure they achieve a manageable and practical solution.
It will provide you with an understanding of the key questions and actions that companies need to consider - their priorities, whether their solution is fit for purpose and how they will manage their journey both to ensure that it will be tailored for their needs and that they can realise the benefits of their investment.
The data and systems transformation journey is long and complex and carries significant risks. It is also the part of any finance transformation programme that provides the catalyst for improvements in process and people performance. Agreeing and delivering the right solution will be key to delivering the wider benefits across the organisation.
This is the second article from the Insurance Finance transformation series. The first article published earlier this year, set out the ‘Business case for change’ covering the key issues facing many insurance CFOs in the light of impending Solvency II requirements and changes in the market.